Interchange Report Could Counter Legislation

The recent report by the General Accounting Office on the impact of payment-card interchange fees could hinder the retail industry's effort to curb such fees, some observers said. The fees, which are assessed by banks on every transaction involving a debit card or credit card, are an anathema to retailers, who have been battling for years to get Congress to regulate them. The banks

WASHINGTON — The recent report by the General Accounting Office here on the impact of payment-card interchange fees could hinder the retail industry's effort to curb such fees, some observers said.

The fees, which are assessed by banks on every transaction involving a debit card or credit card, are an anathema to retailers, who have been battling for years to get Congress to regulate them. The banks and card issuers, however, say the fees are necessary to support the cost of pr